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TELEDYNE TECHNOLOGIES INCORPORATED RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR THE THIRD QUARTER AND NINE MONTHS ENDED OCTOBER 1, 2017 AND OCTOBER 2, 2016 (Unaudited – in millions, except per-share amounts) |
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| Third Quarter | Nine Months | |||||||||||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||||||||||
| Adjusted operating income: | ||||||||||||||||||||||||
| Operating income | $ | 92.9 | $ | 68.8 | $ | 237.2 | $ | 183.3 | ||||||||||||||||
| e2v transaction costs, including stamp duty, advisory, legal and other consulting fees and other costs | 0.2 | — | 13.0 | — | ||||||||||||||||||||
| e2v inventory fair value step-up amortization expense | 2.7 | — | 6.8 | — | ||||||||||||||||||||
| Adjusted operating income | $ | 95.8 | $ | 68.8 | $ | 257.0 | $ | 183.3 | ||||||||||||||||
| Third Quarter | Nine Months | |||||||||||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||||||||||
| Adjusted fully diluted earnings per share(a): | ||||||||||||||||||||||||
| Fully diluted earnings per share | $ | 1.90 | $ | 1.46 | $ | 4.41 | $ | 3.90 | ||||||||||||||||
| e2v transaction costs, including stamp duty, advisory, legal and other consulting fees and other costs | 0.01 | — | 0.26 | — | ||||||||||||||||||||
| e2v inventory fair value step-up amortization expense | 0.05 | — | 0.14 | — | ||||||||||||||||||||
| e2v funds-certain bank bridge facility commitment expense | — | — | 0.05 | — | ||||||||||||||||||||
| Foreign currency option contract expense to hedge the e2v purchase price | — | — | 0.11 | — | ||||||||||||||||||||
| Adjusted fully diluted earnings per share | $ | 1.96 | $ | 1.46 | $ | 4.97 | $ | 3.90 | ||||||||||||||||
| (a) | The adjustments to the third quarter of 2017 are net of income taxes of $0.02 per diluted share based on a 27.7% income tax rate, and the adjustments for the first nine months of 2017 are net of income taxes of $0.22 per diluted share based on a 27.7% income tax rate. | ||
